Banco Comercial Portugues SA banner

Earnings Calls

Last Earnings Call

Fiscal Period
Q2 2026
Call Date
Jul 30, 2026
AI Summary
Q2 2026

Strong first half: BCP reported net income of EUR 565.8 million, up 12.7% year on year, with Portugal and international operations both contributing to growth.

Portugal momentum: Portugal net income rose to EUR 470.2 million, helped by 11.3% NII growth, 5% fee growth, and disciplined cost control.

Poland recovery: Bank Millennium posted a sharp earnings rebound as CHF mortgage charges fell 65% to EUR 96.7 million, while corporate lending and customer funds grew strongly.

Capital and quality: CET1 stood at 15.1%, NPEs fell to 2.2%, and cost of risk stayed contained at 32 basis points, with management saying no change to guidance is needed yet.

Outlook raised: Management lifted Portugal NII guidance to low-teens growth and said this could also hold in 2027, while fee growth is expected to stay around mid-single digits.

Key Financials
Net income
EUR 565.8 million
Net income in Portugal
EUR 470.2 million
Net income in international operations
EUR 183.5 million
Bank Millennium net income
EUR 167 million
CHF mortgage charges
EUR 96.7 million
Customer loans
EUR 65.2 billion
Customer funds
EUR 116.7 billion
CET1 ratio
15.1%
Total capital ratio
19.3%
NPE ratio
2.2%
Cost of risk
32 basis points
Active customers
7.4 million
Mobile customers share
75% of total customer base
App log-ins per day
1.7 million
Portugal NII
EUR 733 million
Portugal NII margin
2.22%
Portugal fees and commissions
EUR 322 million
Portugal operating costs
EUR 361 million
Portugal cost-to-income ratio
33%
Portugal customer funds
EUR 77.5 billion
Portugal gross loans
EUR 3.5 billion more year on year
Bank Millennium customer funds
up 16.8% YoY
Bank Millennium gross loans
up 8.8% YoY
Bank Millennium corporate lending
up almost 32%
Mozambique adjusted net income
EUR 48 million
Mozambique capital ratio
above 40%
Overlay in Portugal
EUR 130 million
Overlay in Poland
EUR 40 million
Pension fund excess
EUR 300 million
Pension sensitivity to discount rate
EUR 86 million per 25 basis points
Resolution fund contribution case
EUR 30 million
Polish consumer loan provision
EUR 15 million
Earnings Call Recording

Other Earnings Calls